5 Steps To Help With Financial Problems In Marriage

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When two people agree to become married, they often open up a joint account and agree to share their money. When you do this, you need to be very careful as some people can enter into the marriage with a lot of debt or others could have spending habits that make it difficult for you to plan for the future. When you are dealing with joint accounts, you need to be able to focus on having communication with your spouse and the two of you need to learn how to manage your money together. You have to work on this all the time or it can lead to marital problems. One of the biggest reasons why people get divorced is directly related to money problems. In order to avoid getting divorced and to ensure that you are not going to struggle financially, we have created 5 simple steps for couples to follow.

Step # 1 - Get an income
To avoid having marital issues, you need to get a job! You need to have money coming in to provide for all the needs that your family has. In some marriages, a single income is enough to pay for your needs. In other marriages, both spouses will need to work to sustain their lifestyle. Sit down with your spouse and go over your situation and determine what you are both comfortable with. As you do this, you can easily find out how much money you need to make and to look for a career that will be able to provide you with a comfortable lifestyle.

Step # 2 - Set a budget
One spouse may love to spend and another may be great at saving. This is nice as it does assist in balancing out your marriage. It is important however that you both sit down together and create a budget to follow. A good budget will be able to reign in the spender and allows you both to plan for your future. Instead of borrowing to pay for things like furniture, you can easily pay for furniture outright thanks to your strong budgeting habits. Having a budget will prevent you from getting into debt and it will allow you to prepare for your children's needs as well. Try to use cash only instead of using credit cards to buy groceries and other things. This will prevent you from spending too much money.

Step # 3 - Pay off debt
A big concern in marriage is debt. It is vital that you pay off debts as quickly as possible. Having too much debt is a headache and it places a big financial strain on the marriage. You may both become angry with one another and it's likely that you blame each other for the struggles with debt. The best thing that you can do is to set up a plan as to how you will pay off debt. Getting yourself out of debt is the best thing you can do for your marriage and your financial situation. Learn to live within your means and within your budget. Make sure you are not opening new credit card accounts and that you are not charging up the ones that you do have. If you cannot control your spending and you keep adding to debt, cut up your credit cards!

Step # 4 - Make it equal
In marriage, everything needs to be equal. It is important that you look at the bills and all the things that you need to pay for and to divide everything equally. Both spouses need to be accountable, not one person being forced to pay for everything. When things are equal, you will be able to avoid dealing with the issue of which person makes more and the little fights that this can cause.

Step # 5 - Communicate often
Sit down weekly with your spouse and go over the budget. You both need to be involved and to know where your finances are at. Communicate with each other often about the finances and both of you need to be involved instead of one person managing them all the time.

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